Agora Microfinance Partners LLP, a London-based outfit that invests equity in microfinance institutions (MFIs) in Asia and Africa, will launch the Agora Microfinance Fund in early 2011. The microfinance investment vehicle will be the first microfinance investment fund managed by Agora Microfinance Partners, which currently invests via Mauritius-based investment vehicle Moringaway.
Agora participates actively in the MFIs in which it invests with the aim of maximizing the social focus of the MFIs and creating long-term value for investors and MFIs. Pending central bank approval, Agora will take an undisclosed stake in Cambodian MFI Angkor Mikroheranhvatho Kampuchea Limited (AMK), which has approximately 250,000 clients and reported total assets of USD 37.9 million in 2009. Agora also has an investment pending in an unnamed, mid-sized MFI in Niger.
In addition to investing equity in existing MFIs, Agora intends to launch Agora Microfinance Zambia Limited within the coming months and is in the process of converting Agora Microfinance India Limited into a non-bank financial company to help it better serve poor people in Mumbai.
The Agora Microfinance Fund will make ten-year equity and quasi-equity investments in MFIs without demanding annual dividend payments. The target fund size is EUR 75 million to EUR 100 million (USD 102 million to USD 136 million). Agora Microfinance Partners is not affiliated with US-based microfinance development group Agora Partnerships [1,2].
By John Howard-Smith, Research Associate
About Agora Microfinance Partners: Founded in 2009, Agora Microfinance Partners is a London-based outfit that invests equity in microfinance institutions (MFIs) in Asia and Africa. Agora intends to launch Agora Microfinance Zambia Limited within the coming months and is in the process of converting MFI Agora Microfinance India Limited into a non-bank financial company to help it better serve Mumbai’s poor. Pending central bank approval, Agora will take an undisclosed stake in Cambodian MFI Angkor Mikroheranhvatho Kampuchea Limited (AMK), which has approximately 250,000 clients and reported total assets of USD 37.9 million in 2009. In 2011, Agora plans to launch the Agora Microfinance Fund to make equity and quasi-equity investments in MFIs. The target fund size is EUR 75 million to EUR 100 million (USD 102 million to USD 136 million). Agora Microfinance Partners is not affiliated with US-based microfinance development group Agora Partnerships.
[1] Agora Correspondence with MicroCapital.org
[2] Agora Microfinance Partners: http://www.agoramicrofinance.com/
MicroCapital’s Microfinance Universe profile: Agora Microfinance Partners, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Agora+Microfinance+Partners
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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